USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Mar 10, 1998

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $17,000,000 for a ticket purchased in New Mexico, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

New Mexico

Drawing Date:Tue, Mar 10, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$15,097$180,847
2$268,668$64,409$15,851$188,408
3$282,102$69,110$16,644$196,347
4$296,207$74,047$17,476$204,683
5$311,017$79,231$18,350$213,436
6$326,568$84,673$19,267$222,627
7$342,896$90,388$20,231$232,277
8$360,041$96,389$21,242$242,409
9$378,043$102,690$22,305$253,049
10$396,945$109,306$23,420$264,220
11$416,792$116,252$24,591$275,950
12$437,632$123,546$25,820$288,266
13$459,514$131,205$27,111$301,198
14$482,489$139,246$28,467$314,776
15$506,614$147,690$29,890$329,034
16$531,945$156,555$31,385$344,004
17$558,542$165,864$32,954$359,723
18$586,469$175,639$34,602$376,228
19$615,792$186,031$36,332$393,430
20$646,582$197,423$38,148$411,010
21$678,911$209,385$40,056$429,470
22$712,856$221,945$42,059$448,853
23$748,499$235,132$44,161$469,205
24$785,924$248,980$46,370$490,575
25$825,220$263,519$48,688$513,013
26$866,482$278,786$51,122$536,573
27$909,806$294,816$53,679$561,311
28$955,296$311,647$56,362$587,286
29$1,003,061$329,320$59,181$614,560
30$1,053,214$347,877$62,140$643,197
Total$17,000,000$5,111,032$1,003,001$10,885,965

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.